Fast Growing Arasor Sees Profit For FY07

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By Rudi Filapek-Vandyck

Rapidly growing high tech photonic technology developer Arasor International (ARR) has announced a slightly better result than previously flagged for its fiscal year to December 2006. Of more importance is, however, that management expects to pull the company into black figures in the current year, and this after accounting for extra investments needed to upscale the business.

According to today’s update to the market, Arasor anticipates a full year profit of $4m (non-A-IFRS) which is based upon a strong second half as the first half is still expected to generate a loss of “less than $8 million”.

Turnover for the year is expected to exceed $120m.

The company plans to “aggressively” expand its operations and presence in China and India in the near term.

The company reported a loss of $17.1m for the year to December 2006 compared with a forecast loss of $17.9m.

At around 2.30pm the shares were up 10c at $3.75.

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